Apollo Tyres Commences Lockout at Perambra Factory
In June 11 filing to the Bombay Stock Exchange, Apollo Tyres has reported the initiation of a lockout at its Perambra factory in Kerala. “With reference to the earlier announcement dated April 29, 2010, Apollo Tyres Ltd has now informed BSE that the management has declared Lock-out at company's manufacturing facility at Perambra,” stated the filing, quoting “labour unrest relating to long term settlement negotiations” as the reason for its action.